REG Study Group Q4 2014 - Page 253

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  • November 26, 2014 at 1:05 am #632996
    REGTaker
    Member

    @cpa–C

    I don't think we are supposed to post MCQ from our test banks anymore. That's why the quizzing thread was deleted.

    November 26, 2014 at 1:07 am #632997
    Anonymous
    Inactive

    @CPAHopeful – what is the answer? There are “hot assets” in that question, right?

    @REGTaker – I think that we can post MCQ's in this thread, but not the “regular” threads. I think.

    November 26, 2014 at 1:10 am #632998
    Anonymous
    Inactive

    The answer is C.

    You could post questions, but they can't be posted in a quiz form like the entire 100 questions off a session.

    November 26, 2014 at 1:12 am #632999
    REGTaker
    Member

    Gotcha. I'm sticking to flashcards for blaw if you guys want me to post some. I'm going over them on my own anyways.

    November 26, 2014 at 1:13 am #633000
    Anonymous
    Inactive

    7–When it is received.

    8–down payment?

    9–To amend, you need consideration and a benefit for the new amount?

    November 26, 2014 at 1:15 am #633001
    REGTaker
    Member

    7–Yep! Received by the offeree

    8–Option

    9–New or additional consideration and both parties agree.

    Good job!

    November 26, 2014 at 1:16 am #633002
    Anonymous
    Inactive

    This is SO great! Option – I knew that one, just couldn't think of the word.

    November 26, 2014 at 1:18 am #633003
    REGTaker
    Member

    10–What is this term? Made with an intent to deceive

    11–What is this term? Reckless disregard of the truth.

    12–Under UCC, what are the 2 ways for a seller to accept an offer for a buyer to purchase goods?

    November 26, 2014 at 1:18 am #633004
    REGTaker
    Member

    I thought you would like these Bucky. 🙂 It is a nice change of pace from all those MCQ too.

    November 26, 2014 at 1:22 am #633005
    Anonymous
    Inactive

    10 – Scienter

    11 – Negligence – Gross Negligence?

    12 – failing to reject the goods, payment?

    November 26, 2014 at 1:24 am #633006
    REGTaker
    Member

    10–Correct!

    11–Constructive Fraud, which is an element of Gross Negligence (Fraud)

    12–You're thinking buyer accepting. Think seller accepting a purchase order. How do they show that they accept a buyer's PO?

    November 26, 2014 at 1:25 am #633007
    Anonymous
    Inactive

    13–Name 3 items Bankruptcy does not stop

    November 26, 2014 at 1:28 am #633008
    REGTaker
    Member

    13–Back taxes, debts not listed by the debtor, I can't think of another one.

    November 26, 2014 at 1:29 am #633009
    Anonymous
    Inactive

    I have no clue what #12 is – what's the answer?

    November 26, 2014 at 1:30 am #633010
    REGTaker
    Member

    12–The answer of what the seller can do to acceptance of a buyer's offer to purchase goods is a promise to ship OR promptly shipping the goods.

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